July 2, 2008 05:05

Technical Analysis – EUR/USD Entering Tight Range

Posted In: Technical Analysis
By:

7-2-08

5:02a GMT – After securing a 100-pip profit on the last rise (see free forex signal) the EUR/USD pair could be entering a tight range for the short-term between 1.5840 and 1.5715.

Trading Idea: As the pair approaches the top of this range (currently at 1.5816) look for selling opportunities with stops above. Caution is advised, however, as the pair ultimately looks to be in an upswing. Short targets at 1.5785 and 1.5735.

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